FXStreet reports that economists at TD Securities buy gold at $1710/oz, targeting $1900/oz in anticipation of continued growth in investment demand amid massive and prolonged unconventional central bank stimulus.

"The Fed's latest QE program is now the largest on record. While this creates an opportune environment for gold, we suspect that the market continues to underprice its impact on gold."

"The Fed and other central banks are likely to keep their uber-easy policies in place for far longer than anticipated, following a decade of below-target inflation and a newfound interest in asymmetric inflation targeting."

"Consensus analyst forecasts remain below spot prices, strengthening the argument that the market is underestimating the potential impact on gold. We expect investment demand to rise as liquidity returns."